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Opec is weighing how to bring back oil production when its current output curb deal with non-Opec states expires at the end of the year. The group is also considering a framework to formalize its long-term cooperation.
No decision has been reported.
The eventual exit mechanism will determine how much supply returns to the market in 2019, which affects longer-term crude price expectations. Feed costs tied to energy are not moved by this discussion alone.
energyintel.comMar 5, 2018After 175 past neutral policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
